US EditionAlibaba shares drop 5% in premarket trading after big profit miss
- Alibaba, the Chinese e-commerce giant, announced a six percent rise in annual revenue for the fiscal year ending March 31, 2025, during its financial disclosure on the Hong Kong bourse.
- The revenue rise follows persistent economic uncertainties including sluggish consumer spending and strained U.S.-China trade relations that affected China's tech sector broadly.
- Alibaba's quarterly revenue reached 236.5 billion yuan but narrowly missed Bloomberg estimates, while net income surged 279 percent year-on-year from a low 3.3 billion yuan base last year.
- CEO Eddie Wu highlighted that results reflect the ongoing effectiveness of Alibaba's 'user first, AI-driven' strategy amid intensified competition and large AI investments by Alibaba and rivals.
- Despite economic challenges, Alibaba's growth signals a positive rebound for China's tech sector and increased investor interest as Beijing promotes domestic platforms amid tariff reductions with the U.S.
42 Articles
42 Articles
Alibaba misses revenue estimates as it fights for China e-commerce market dominance
Chinese e-commerce giant Alibaba reported quarterly revenue that missed Wall Street estimates on Thursday, as the company works on new strategies to keep consumers spending amid persistent economic weakness and global trade uncertainties.
China’s Alibaba posts annual revenue increase despite spending slump
Internet giant Alibaba posted on Thursday a six percent increase in annual revenue, the latest positive sign for China's tech sector despite persisting economic uncertainties that include sluggish spending and threatened trade. The Hangzhou-based company is one of the biggest players in China's tech industry, with operations spanning retail, digital payment, artificial intelligence and entertainment.
Daily Journal
China's Alibaba posts annual revenue increase despite spending slump
Internet giant Alibaba posted on Thursday a six percent increase in annual revenue, the latest positive sign for China's tech sector despite persisting economic uncertainties that include sluggish spending and threatened trade.
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